Number
190055
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. COGGS
Title
Substitute resolution approving a Land Disposition Report and authorizing the sale of the City-owned tax deed property at 2543-47 North Dr. Martin Luther King Jr. Drive, in the 6th Aldermanic District.
Analysis
This substitute resolution authorizes the sale of City-owned Development Property according to the conditions in a Land Disposition Report pursuant to Section 304-49-5 and 304-49-8, Milwaukee Code of Ordinances.
Body
Whereas, The City of Milwaukee (“City”) acquired 2543-47 North Dr. Martin Luther King Jr. Drive (the “Property”) in October, 2017 through property tax foreclosure; and
Whereas, The Department of City Development (“DCD”) advertised the Property for sale on its website and through MLS and in 2018 as a Request for Proposal (“RFP”); and
Whereas, DCD staff reviewed three proposals received prior to the established deadline; and
Whereas, DCD staff shared the top two proposals (the “Finalists”) with the Bronzeville Advisory Committee (“BAC”); and
Whereas, The Finalists presented to the BAC, and the BAC recommended that Pepperpot CateringMKE Limited Liability Co. (the “Buyer”), or assignee, should acquire and redevelop the Property; and
Whereas, DCD staff concurred with the recommendation of the BAC that the Buyer, or assignee, should acquire and redevelop the Property as summarized in a Land Disposition Report and a Due Diligence Checklist, copies of which are attached to this Common Council File; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Land Disposition Report is approved and DCD is authorized to enter into a Purchase and Sale Agreement with the Buyer, or assignee, materially consistent with the Land Disposition Report, and then convey the Property to the Buyer in accordance therewith; and, be it
Further Resolved, That the Commissioner of DCD, or designee, is authorized to sign the Purchase and Sale Agreement, deed...
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